Atlendis, a DeFi lending platform, secured EUR 1 million (USD 1.1 million) from the French public investment bank, BPI, in debt funding. This round brings the company's total funding to USD 5.5 million.

Atlendis plans to use these funds to support the growth of its recently launched "Atlendis Flow," a lending product for institutional borrowers that enables direct crypto-to-fiat transactions. 

Furthermore, the company also stated that it had obtained a Digital Asset Service Providers (PSAN) license for French crypto services providers.

Analyst Quicktake: Despite the market turmoil, DeFi lending has seen growing levels of activity in the last three months with a number of startups raising funding. These include Radiant Capital , which raised USD 10 million just last week, and Granary Finance and Credora , which raised USD 5 million and USD 6 million , respectively, in April. Atlendis aims to differentiate itself from its competitors by targeting non-crypto institutional clients. The company’s PSAN license enables it to create wallets for borrowers to exit or enter directly from their bank accounts.